Courtney and Welch Reintroduce Bill to Eliminate Federal Student Loan Interest
The segment is a July 2026 Capitol Hill press conference where Rep. Joe Courtney (D-CT) and Sen. Peter Welch (D-VT) re-introduce the Student Loan Interest Elimination Act, citing rising defaults shown on a chart, record interest rates, and impacts on young borrowers. Tiffany Dena Loftin of the U.S. Student Association shares a personal default story tied to caregiving costs. The event highlights the bill’s trust-fund offset using principal payments invested in low-risk assets (modeled on the Railroad Retirement Fund) to replace interest revenue to the Treasury. Speakers reference prior legislation like the 2007 College Cost Reduction Act and criticize a recent HR1 cap and a Republican 2% rate proposal for lacking sustainability.
Source: Joe Courtney